Mainor Ülemiste’s subsidiary concluded a credit agreement in amount of 10.7 million euros

September 25

Mainor Ülemiste AS' subsidiary Öpiku Majad OÜ conluded a credit agreement in amount of 10.7 million euros with the Estonian branch of OP Corporate Bank Plc, which refinances the existing loan from Nordea Bank and finances the construction of Lurich houses.

Mainor Ülemiste AS' subsidiary Öpiku Majad OÜ conluded a credit agreement in amount of 10.7 million euros with the Estonian branch of OP Corporate Bank Plc, which refinances the existing loan from Nordea Bank and finances the construction of Lurich houses.

The 13-floor Lurich quarter's rental apartments’ house and the 8-floor office tower with the address Valukoja 10 are going to be built between the old limestone walls of Dvigatel factory. The proposed completion date of the building is in the first half of 2020, after which the modern district becomes active 24/7.

The construction start of the first residential building of Ülemiste City, and the office tower next to it, is planned already for this autumn. The 13-floor building, bearing the name of Georg Lurich, will have 82 rental apartments and the 8-floor commerical building modern office spaces. The building complex is designed by the architectural firm Pluss.

OP Corporate Bank Plc, who is financing the construction, is a leading Finnish financial services group which offers services for large and medium-sized companies in Estonia.

The main activity of Mainor Ülemiste is the development of Ülemiste City as the largest business district in the Baltics constructed on the premises of the former Dvigatel factory near the Tallinn Airport. As of today, the 36 hectare of the district have 130,000 square metres of rentable office space in which over 10,000 people are working in 380 companies. By 2025, it is estimated that 20,000 people will live, work and study in the district. The Ülemiste City district is developed by Mainor Ülemiste AS and Technopolis Ülemiste AS.